Lot 3800
1833 $5 Capped Head. Small date. PCGS graded MS-63 PQ, Breen I-2. Old green holder. Well struck with semi prooflike surfaces Very rare variety. Should be sent in for regrade. This coin should be relisted by PCGS as a small date. Pop 3; 4 in MS64. Although 193,630 specimens of the 1833 Half Eagle were struck, probably all but a few thousand were consigned to the furnaces and melted. During this decade, gold coins were worth more in terms of intrinsic value than face amount, so a gain could be made by buying up freshly minted coins, melting them, and selling the bullion (even selling it back to the Mint). This state of affairs accounts for the rarity of virtually all half eagles of this era, despite large mintage figures. On August 31, 1834 the weight standard was revised, the coins reduced in weight slightly, and the crisis put to rest. From that point forward Half Eagles and other denominations circulated freely.
This "Premium Quality" specimen is in remarkable condition for so great a rarity. Exceptionally choice light greenish-yellow gold with pale coppery toning. Smooth and resplendent with satiny luster, a bit reflective in areas where the die was polished. The devices are frosty and very well defined everywhere but stars 1, 2 and 13; these bottom stars lie directly opposite the high relief wing-tips and were problematic on not just the 1833-dated half eagles. The eye appeal is simply beautiful. There are almost no marks on Liberty's frosted profile, her facial contours smooth and golden. The originality of the coin is immediately obvious and serves as an identifier for future collectors to admire and enjoy (PCGS # 8157) .
Three varieties of 1833 half eagles are known from a mintage of 193,620 coins. Mintages of half eagles were larger during this period in the 1830's, due primarily to quantities of gold shipped to the Philadelphia Mint from North Carolina and Georgia. This example has a small date on the obverse and period far from 5D on the reverse.
Estimated Value $50,000 - 75,000.
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| Realized $126,500 |
